DALLAS, Texas – Beacon Equity Research announces the release of Trade Alerts covering Newsworthy Market Movers: Kimco Realty Corp. (NYSE: KIM), Brookfield Properties Corp. (NYSE: BPO), Boeing Co. (NYSE: BA), Harman International Industries Inc. (NYSE: HAR), Walgreen Co. (NYSE: WAG) and AirTran Holdings Inc. (NYSE: AAI).
In the Trade Alert, the author highlights Kimco Realty’s 2009 funds for operations well below Wall Street expectations:
“Kimco Realty Corp. (KIM) shares rose 4.05% to $12.57 Friday morning. Kimco Realty is a publicly owned real estate investment trust. It engages in acquisitions, development and management of neighborhood and community shopping centers. … As the deepening recession and rising job losses cause cash-strapped consumers to trim spending, the company recently said it expects 2009 funds for operations (FFO) to range between $1.70 to $1.90 per share, well below Wall Street expectations. Analysts' current estimate for 2009 FFO is $2.22 per share. Kimco Realty also reported a 92% decline in fourth quarter FFO, falling far short of analyst predictions due to heavy impairment charges linked to job cuts and writing down asset values. … Kimco Realty also maintains a quarterly cash dividend of 44 cents per share, payable April 15 to shareholders of record April 6. However, it said its board will continue to evaluate dividend payments quarterly as tight credit markets and the weakening economy may require the company to preserve cash.”
The Trade Alert author also featured Brookfield Properties’ 2% increase in funds from operations in the fourth quarter:
“Brookfield Properties Corp. (BPO) shares rose 6.27% to $6.44 Friday morning. Brookfield is a publicly owned real estate investment firm. It engages in the ownership, development and management of premier commercial properties. … On higher average rents and a tax benefit, the company recently reported a 2% increase in funds from operations (FFO) in the fourth quarter, and offered guidance for 2009 that was slightly above current Wall Street estimates. Brookfield reported fourth quarter FFO of $190 million, or 49 cents per share, after preferred dividends were paid compared to $187 million, or 47 cents per share, in the same period a year ago. Analysts polled by Thomson Reuters expected funds from operations, or FFO, to be 37 cents per share.”
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Jeff Bishop, (469)-252-3505